Addition for Cash deposit during demonetisation Period: ITAT directs AO to follow CBDT Circulars

Shri T. Sriranga (HUF) Vs ITO (ITAT Bangalore)

Admittedly cash has been deposited to the current account of the assessee amounting to Rs.46,85, 140/-. The only explanation offered by assessee is that the source of cash deposits are from cash sales of the business. We note that the Ld.AO while verifying the claim has not considered the circulars issued by CBDT pertaining to cash deposits during demonetisation period.

We note that no specific query was raised by the Ld.AO, in respect of the

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